Crestwood Capital Management L.P. Raises Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

Crestwood Capital Management L.P. boosted its holdings in Birkenstock Holding plc (NYSE:BIRK) by 20.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,853 shares of the company’s stock after purchasing an additional 25,451 shares during the quarter. Birkenstock makes up approximately 5.6% of Crestwood Capital Management L.P.’s holdings, making the stock its 9th biggest position. Crestwood Capital Management L.P. owned 0.08% of Birkenstock worth $7,288,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Birkenstock by 128.8% during the 2nd quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $6,747,000 after acquiring an additional 69,800 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Birkenstock during the 2nd quarter valued at approximately $6,325,000. Bradley Foster & Sargent Inc. CT purchased a new position in shares of Birkenstock in the second quarter valued at $849,000. Finally, Lazard Asset Management LLC bought a new stake in Birkenstock in the first quarter worth $571,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Trading Up 6.8 %

BIRK opened at $50.82 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $48.21 and its two-hundred day moving average is $52.53. The company has a market capitalization of $9.55 billion and a P/E ratio of 83.31. Birkenstock Holding plc has a 52 week low of $41.00 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The firm had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Analysts forecast that Birkenstock Holding plc will post 1.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BTIG Research set a $60.00 price objective on shares of Birkenstock and gave the company a “buy” rating in a research report on Friday, October 18th. Evercore ISI reissued an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Stifel Nicolaus raised their price objective on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets reissued an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.40.

Birkenstock Profile

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.